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BID Newsletters
Oct 5, 2022
Data analytics offer community financial institutions an opportunity to increase customer engagement, improve profitability, and grow revenue. We take a look at some of the analytics capabilities that can deliver on this promise and give you some tips on how to build them.
Jul 27, 2022
Don't just automate tasks to make your customers' lives easier — automate your institution’s back-office operations as well. Not only will you create more efficiencies, reduce errors and save costs, but you will also free up your employees for higher-level tasks. You can also better coordinate with the sophisticated automated solutions you’re offering to customers. We delve further and offer three tips to get you started.
Jul 22, 2022
CFIs' relationships with their core providers tend to last for decades, if only because a change is such a hassle. If you do need to make a core conversion, however, here’s how to do it with the least possible pain.
Jun 17, 2022
Key ingredients make a top-performing CFI. We share a number of them, from finding lucrative lending niches and additional sources of income, to maintaining a lean outfit and nurturing your most valuable asset: your talent.
Jun 14, 2022
In the wake of the ongoing talent shortage across the country, outsourcing has become increasingly popular as companies struggle to find qualified candidates. In 2020 alone, nearly 70% of businesses turned to outsourcing. Though outsourcing may not be for everyone, the changing nature of work has made it a more appealing option that CFIs may want to consider — we go into detail.
Apr 27, 2022
Return on Experience (ROX) is a fairly new metric for financial institutions. Yet, one survey has found it to be a powerful metric. The study found that financial institutions that grew 10% or more had stronger ROX programs than those that didn’t. We explore this new performance metric.
Mar 30, 2022
In October 2021, 74% of Americans said that stress was affecting them. Even now, there are still many people that are stressed and burned out. This has resulted in employee disengagement and lower productivity. Our Chief Sales & Marketing Officer, Sonia Portwood, discussed this issue with Dr. Susan Bernstein in our podcast, Mind, Body & Banking. Here are some highlights.
Dec 21, 2021
The Great Resignation has hit all industries, including the financial industry. With the high cost of employee turnover, even community financial institutions need to be proactive in retaining staff. We share four strategies that your peers are finding helpful to successfully combat employee turnover and keep staff happy.
Dec 20, 2021
Core providers may not be the first thing that community financial institutions think of when looking for ways to innovate for their customers. However, core providers can prove to be helpful partners as you develop and manage innovative solutions. Here are four considerations to tap into all that your core has to offer.
Dec 10, 2021
Time wasters may not seem like a big deal, but they can add up to thousands of dollars a month. Executives spend almost five hours per day in meetings, and if any of those are unnecessary on a regular basis, you can imagine the price tag. Now is a good time to review your schedule for 2022 knowing these four time wasters.
Oct 14, 2021
89% of full-time employees have reportedly experienced burnout since the start of the pandemic. Community financial institutions have a pressing responsibility to uncover the root causes behind their employees’ stress and anxiety and help reduce burnout. We discuss the continuing effects of the pandemic on labor and provide solutions for employee retention.
May 4, 2021
While small talk around the water cooler has been around for decades, the pandemic has reduced the opportunity for that exchange. Yet, it is still important to encourage small talk as it promotes connection, performance, and innovation while it fights Zoom fatigue. We give you three ways to build small talk into the work week so that you can keep your teams connected and strong through the transition to normalcy.
May 3, 2021
Financial institution profitability does not just depend on the customer, but on your officers too. Ensuring that officer incentive plans are tied to your institution’s goals will facilitate overall performance and profitability. We give you the steps to take including designing and reviewing incentive plans, making adjustments as necessary, and using officer feedback.
Apr 27, 2021
Rising inflation is a hot topic these days. Bankers are watching it closely to see its effects on certain market sectors, and subsequently, on its influence on their margins. Join us as we delve into what economists are saying and how interest rates could be affected. What are the implications of these trends for community financial institutions?
Apr 20, 2021
Chase Bank found that 80% of surveyed respondents between 18 and 65 years of age prefer digital banking to banking in-person. As the digital age continues and community financial institutions look for digital solutions, effective vendor management will be critical for bank profitability. We bring you five vendor management strategies to help.
Apr 6, 2021
Eighty percent of company leaders say they will allow at least part-time remote work after the pandemic. If your institution is considering some remote work roles, it is important to facilitate productivity and collaboration across all employees to level the playing field. We provide three elements to maintain high team performance: access and visibility; attention and support, and pre-emptive planning.
Mar 19, 2021
In 2020, 2,563 branches were lost. Branch closures seem to have accelerated with the pandemic. But, does that mean the branch is doomed? We look for the answers to this question through continuing digital engagement, bank mergers, and needed cost reductions.
Mar 5, 2021
M&A deals dropped 56% last year. So, how do things look in 2021 for bank M&A? We provide highlights from the Bank Director’s 2021 M&A Survey to give you the answer and cover: who’s in the market, the status of technology acquisitions, expectations for a recovery, and thoughts on deal opportunities.
Feb 17, 2021
While productivity doesn’t seem greatly affected by the dramatic shifts necessary due to the pandemic, employees still face challenges in the current environment. Helping them through some of these challenges, including stress, time management, and social withdrawal, will help them stay engaged and committed and keep productivity levels high.
Jan 29, 2021
Employee diversity can provide community financial institutions with many benefits. It can increase employee engagement, improve business performance, and allow for greater connections with a changing customer base. We give you some ways to increase your employee diversity.
Jan 20, 2021
In 2019, American businesses lost $399B due to unnecessary and poorly run meetings. Some tips to steer clear of lost productivity from meetings: examining types of work, leveraging technology, visual aids in meetings, and alignment to goals.
Jan 5, 2021
A robust data privacy program is key for all financial institutions. We explain how it can be a competitive tool as well.
Dec 24, 2020
While the BID takes a rest for the holidays, we revisit some of 2020's most popular articles.
Dec 29, 2020
While the BID takes a rest for the holidays, we revisit some of 2020's most popular articles.
Dec 23, 2020
Community banks have many challenges these days. Hear from two of the oldest community banks, as they share lessons in longevity to inspire you.
Dec 15, 2020
Even though diversity and inclusion assessments are voluntary, it may be time to be proactive. We explain why.
Dec 9, 2020
Bank M&A hit a low point this year. Yet, it is expected to ramp up in 2021. We review the M&A landscape.
Sep 10, 2020
Working remotely is the "new normal." We provide findings and insight into how to adapt your performance reviews.
Aug 6, 2020
We provide the findings and our insights from a new report on the economic recovery for commercial banks, to help with your strategic planning.
Jul 23, 2020
Absent the traditional summer happy hours and social outings that employees typically enjoy together, you will want to think creatively to keep your employees connected. We provide you with five ways to do that.
Jul 20, 2020
Fallout from the coronavirus has many financial institutions gearing up for divestments, according to a recent survey. Is divestment an option for your institution?
May 18, 2020
Meetings are even more vital with a greater number of remote workers, but they can also be more challenging. We provide you with a guide to remote meeting management.
Apr 2, 2020
Today we continue with the feedback we received from bankers on the most important regulatory concerns due to the coronavirus.
Mar 30, 2020
With COVID-19, many more employees are working from home. We provide you with tips for managing an expanded remote team and ways to smooth the disruptions.
Apr 1, 2020
We recently asked community bankers for their top three regulatory concerns with COVID-19. Today is the first of a two-part series highlighting these paramount issues.
Mar 20, 2020
Loan growth is expected to be challenging this year. We help you whittle down some of the obstacles.
Mar 13, 2020
Most community financial institutions have bountiful customer information. But, it is oftentimes stored in multiple silos. To stay competitive, this must change.
Mar 4, 2020
While many branches are closing, reassessing and maximizing their value based on your customers' needs is the way to go.
Feb 21, 2020
With all the focus on artificial intelligence, it can be easy to overlook a far simpler but effective cousin: automation. Today, we look at how automation (then AI) can help your institution.
Feb 11, 2020
While the slower pace of M&A deals in Q4 2019 may be an omen for what is to come in 2020, the urge to merge remains strong. Is M&A still worthwhile?
Feb 4, 2020
While financial institutions usually focus on new customers to enhance profitability, overall profitability is a multi-dimensional process and existing customers can definitely help too.
Jan 23, 2020
In a recent survey from Harvard Business Review and Google Cloud, 89% of executives around the world cite collaboration as a critical factor in the success of any business. Does your institution promote collaboration?
Jan 14, 2020
Costs associated with branch networks are in the range of $600k to $2mm per year. Is it time to do a sanity check on your branch costs?
Jan 3, 2020
The 2019 CSBS community banking survey has some valuable insights. We provide them to you today.
Jan 2, 2020
Today, we look back at the major events in 2019, while looking ahead at the economic landscape for 2020.
Dec 13, 2019
Team building activities are popular, but rather ineffective. You may want to give social network analysis a try instead.
Dec 3, 2019
Consolidation is intensifying competition. We provide some practical approaches for this tough market.
Sep 23, 2019
Sometimes even the best boards get out of balance, with one or two voices dominating. We give you ways to prevent and remedy this situation.
Sep 19, 2019
Google discovered that managers, who are able to empower their employees without micromanaging, help their employees be more efficient and productive. We provide the seven steps to do this.
Sep 13, 2019
Today, 40% of customers say they would prefer video for doing at least one financial activity, according to Forrester. We review how some institutions are using video to keep these customer happy.
Sep 4, 2019
Data aggregation is growing quickly, especially in the banking industry. Is your institution prepared?
Aug 29, 2019
Trust is incredibly important. It makes employees more productive and customers more loyal. We provide tips to help with both.
Aug 1, 2019
Board meeting structure is often a given. But, maybe it is time to review it for the best ROI.
Aug 2, 2019
We calculate the cost of board meetings to help bankers understand if you could be getting more bang for your meeting bucks.
Jul 25, 2019
Fifty-four percent of privately held financial institutions do not conduct board evaluations at all. We explain why they are important.
Jul 10, 2019
We have covered succession planning best practices before. Today, we provide you with some good examples of succession planning efforts that your institution may find helpful.
Apr 30, 2019
If you are like most community banks, communicating your appetite for risk consistently is a challenge. How can you ensure consistency in loan pricing at your bank?
Apr 12, 2019
Having quality employees who are invested in the success of your business is crucial for community banks. Attracting the right employees is not enough, though.
Jun 18, 2019
The latest FDIC performance report showed strong numbers for community banks. However, doing more of the same may not be the best course of action.
Jun 14, 2019
Big data is supposed to give banks' customers exactly what they need at the time they need it. Although this hasn't exactly happened yet, we are making progress
Jun 4, 2019
Regional and community banks are definitely feeling pressure to consolidate these days. But, should you give in to this pressure?
May 31, 2019
It was recently reported that immigrants to the US now make up nearly one-third of all US entrepreneurs. We provide tips on how to attract and retain this important group of business customers.
May 30, 2019
Can Marie Kondo, the Queen of Tidying-up, provide bankers with important lessons on efficiency, performance and profitability?
May 15, 2019
Faced with high childcare costs, many working parents are forced to take drastic measures. What your bank can do to retain these employees and keep them happy.
May 3, 2019
In our new BID feature, "Inquiry and Insight", we provide questions from readers and bankers and do our best to give you relevant, insightful answers.
Apr 26, 2019
When it comes to work, it turns out that giving people more freedom can foster greater productivity and creativity among employees. We review some options for community banks.
Apr 25, 2019
Many customers expect more than great products and services at competitive prices - they expect companies (including banks) to stand for something. Is your bank purpose-driven?
Apr 24, 2019
Hospitality lending can be a good niche for many community banks that do it right. There are definitely unique challenges to the sector, but with the right expertise and technology, the profit on high-yielding hotel loans can outweigh the risks.
Apr 17, 2019
When it comes to banking performance, it makes sense to set goals and use metrics to track achievement. However, this is easier said than done.
Apr 9, 2019
Taxpayers are now filing their first returns under the new tax law, and companies are realizing how it affects their taxes and their business. We provide a comparison of the two types of incorporations.
Apr 3, 2019
People expect their banks to operate more like leading technology companies. But, many banks still fall short of these expectations. A Deloitte survey uncovers the gaps and suggests what banks can do to improve.
Apr 2, 2019
Wellness programs are an increasingly important employee benefit. We give you the lay of the land.
Mar 29, 2019
What is the current outlook on M&A? To acquire or be acquired - is that the question?
Mar 27, 2019
In banking, teleworking can give you more flexibility, reduce the need for physical space, and help you increase resilience during a natural disaster. What banks need to know about teleworking.
Mar 22, 2019
While 33% of baby boomer business owners plan to transfer ownership within the next 5Ys, 36% have yet to figure out how that will happen. What this means for your bank.
Mar 20, 2019
In an interesting twist, bankers might want to take a page from Walmart's playbook when it comes to helping train new employees for the demands of the job.
Mar 15, 2019
Small business owners have given up around $43k on average in lost opportunities because of insufficient cash flow issues. Here's how your bank can help these customers.
Mar 12, 2019
According to the Kauffman Index, the percentage of "encore entrepreneurs" has risen to 24.3% and is the largest gain of any age group. Find out who these entrepreneurs are and how your bank could help them.
Mar 7, 2019
Competition is not only vying for community bank customers, but also for employees, managers, executives and key players across the board. We have some ideas to help.
Feb 25, 2019
Ghosting has made its way into the workplace. Ways to prevent it from happening at your bank.
Feb 19, 2019
A January 10th survey of economists by the Wall Street Journal finds on average a 25% chance of a recession within the next 12 months. So, what can you do to better prepare?
Feb 12, 2019
A recent study found that women aren't necessarily happy with their bank. Holding 51% of personal wealth in the US, this is an important customer group to keep happy.
Feb 7, 2019
We explain how one bank is using smartwatches to decrease wait times and increase customer satisfaction.
Feb 6, 2019
Although some central banks are researching and testing distributed ledger technology (DLT), there is still a lot of work to be done. We give you an update.
Feb 1, 2019
Only 16% of all bank boards of directors include a director who is age 40 or younger. We explain why the right age mix is important for a bank's performance.
Jan 31, 2019
A new joint regulatory statement encourages financial institutions to use innovative approaches to BSA/AML compliance. We break it down for you.
Jan 29, 2019
Banks are starting to take financial literacy efforts to the next level. Is this something your bank should do?
Jan 28, 2019
There are good reasons for many written and unwritten business rules bankers follow. The hitch comes when we follow those rules blindly, without examination. We examine "best practices" more closely.
Jan 23, 2019
Deposit growth is a top priority for banks, and appealing to millennials may be a way to do it. But, this can be tricky too.
Jan 17, 2019
Collections are a hassle for all banks for a host of reasons. Some banks are finding new ways to address this age-old issue.
Jan 16, 2019
Artificial intelligence early adopters have much to share on their learnings. We give you the highlights.
Jan 10, 2019
A recent consumer poll finds 86% expect their banks to provide them with seamless service. We provide some ways that community banks can do this.
Jan 2, 2019
In an effort to get an ongoing pulse on the nation's community banks, the CSBS is creating a sentiment index. We tell you what this will measure and how it can be used.
Jan 3, 2019
According to a study by PayNet and Raddon, small businesses are eager for loans. We provide you with some insight from this report to help you win over these eager customers.
Dec 31, 2018
There are many challenges ahead. Yet, when it comes to the top ones, banks are in agreement. We address the top three to start you on the right course in 2019.
Dec 21, 2018
Community banks outperformed middle-size and large banks for total loan growth in 75% of the regions measured during Q2, according to Trepp Bank Navigator. We provide the key insights.
Dec 11, 2018
The ability to utilize e-signatures and eliminate a large amount of paper can significantly reduce time and costs. Should your bank be making this shift?
Dec 5, 2018
While subordinated debt may not be right for some community banks, others may want to consider it. We provide some helpful information to consider.
Nov 30, 2018
With a new CA law going into effect, you may want to boost the proportion of women on your board, even if your bank isn't in CA. We provide you with some things to consider.
Nov 27, 2018
A 2018 ABA report on community bank CEO priorities reports only 17% of community banks currently offer insurance products. Could this be an opportunity for your bank?
Nov 7, 2018
How does the sudden rising cost of materials affect construction loans? We offer ways to mitigate this risk, as higher tariffs are absorbed into building projects.
Oct 24, 2018
Various surveys provide insight into employees' salaries and job satisfaction. Some of the results are surprising.
Oct 22, 2018
A community bank's strength is in its customer relationships. So, it seems natural to bring up microsites, to continue enhancing and solidifying these relationships.
Sep 27, 2018
As bank technology ages, many community bankers are faced with a decision: what should you do about your core? We have some options for you.
Sep 25, 2018
Mobile and branch channels can work together for bank efficiency and customer engagement. We provide some tips on how to do this.
Sep 20, 2018
Vendor-provided, bank-curated client offerings are still relatively new and they may sound costly. However, they could provide you with another way to engage your business customers.
Sep 14, 2018
An ABA survey finds 76% of community banks believe that social media is important to their bank. But, finding the right customers and converting them through social media is easier said than done.
Sep 13, 2018
In an era of rising costs, it can be tempting to look at an underused branch and consider reducing hours. However, you may want to consider these things before you do.
Sep 4, 2018
One Gallup survey found workers 21 to 37Ys old were 3x more likely to change jobs than older workers. How can community bankers stem this flow?
Aug 31, 2018
Eighty percent of surveyed respondents said that the experience with any company is as important as its products or services. How to ensure the experience of your bank customers is exceptional.
Aug 27, 2018
We reviewed bank surveys from Ovum and Promontory Interfinancial, and provide you with the highlights to consider during your strategic planning.
Aug 24, 2018
CEOs have huge demands on their time. A new HBR survey provides some insightful tips for bank executives to help solve the ongoing challenge of effective time management.
Aug 13, 2018
Now that rates are rising, banks need to be effective in growing inexpensive deposits. Some tips for community banks to consider.
Aug 6, 2018
As competition heats up, keeping the attention of banking customers is critical. Bain & Co. provides a report on "customer episodes". We explain how these episodes may help.
Aug 7, 2018
Lenders are seeing an increased demand for long-term loans. How can community banks satisfy this demand in a rising rate environment?
Jul 25, 2018
Banks are switching from product-centric pricing to customer-centric pricing to help attract and retain profitable customers. We tell you how that works.
Jul 18, 2018
Some community banks have found a way to appeal to business customers beyond the usual offerings - using mentoring/advisory services. We provide a few examples.
Jul 10, 2018
Seventy percent of bankers say their legacy systems cannot adapt quickly enough when customers want the latest functionality. We cover some options.
Jun 28, 2018
The odds have soared for community banks seeking capital from investors. We give you the lay of the land.
Jun 25, 2018
All banks are trying to fine-tune the onboarding process. We provide some creative ideas from community banks.
Jun 13, 2018
FDIC's first quarter 2018 banking profile includes a breakout on community bank performance. We provide you with the highlights.
Jun 5, 2018
Banks are being forced to consider how long is too long for a board member. The average board member age is currently 63.6 years. We shed some light on this topic.
May 17, 2018
According to a Barlow Research Associates Flash Panel, small business customers appreciate it when their bank proactively offers solutions. How to best do that as customer needs change.
May 11, 2018
There are useful lessons that can be learned from Amazon, even for community banks. We lay them out for you.
Apr 12, 2018
According to JD Power, 75% of US retail bank customers polled say they are interested in receiving financial advice from their bank. However, just 28% are currently receiving any. Insights from this study to consider with your customers.
Mar 22, 2018
Marketing automation is a dominant theme with banks, as efficiencies are sought. Some tips to start your bank's marketing automation.
Nov 20, 2017
Could asking more questions help bankers get more business? What one recent case study shows.
Nov 15, 2017
Workplace sensors are efficient cost-cutting tools and can even boost productivity. What community banks can learn.